The Korea Herald

Monthly rent highest for 20s, 30s in Gangnam

Oct 25, 2017

Among Seoul’s lower-income bracket, those in their 20s and 30s residing in the southern part of Seoul paid the highest amount of monthly rent, while those aged 60 and over living downtown paid the le...
Pro-labor policies risk hurting productivity

Oct 25, 2017

Concerns are growing that President Moon-Jae-in’s push for reducing work hours along with a steep increase in the minimum wage may further aggravate Korea’s labor productivity, which remains near the...
Venture minister nominee stresses role of small biz, startups

Oct 25, 2017

The nominee for the Ministry of SMEs and Startups said Wednesday the South Korean economy can make the next leap forward when venture firms and small businesses are successful. Hong Jong-haak, a for...
Sin taxes collected by govt. up sharply fueled by dues slapped on tobacco: data

Oct 25, 2017

The amount of sin taxes levied on tobacco, liquor and gambling has risen dramatically in recent years due mainly to the sharp rise in dues levied on cigarettes, government data showed Wednesday. The...
Data show large sums of untaxed wealth transfers

Oct 25, 2017

An average of about 60 trillion won ($53.09 billion) worth of wealth has been transferred or handed down every year since 2003, but less than half of the recipients had to pay taxes, data showed Wedn...
South Korea to tighten loan rules to curb household debts

Oct 24, 2017

Borrowers to be classified into four groups based on repayment ability
[Monitor] Younger generation taking out more loans

Oct 24, 2017

An increasing number of younger people are taking out loans from lenders, according to data released by Rep. Um Yong-soo of the Liberty Korea Party during the parliamentary audit session. Using the ...
About half of salaried workers paid less than W2m per month: data

Oct 24, 2017

Nearly half of South Korea's salaried workers were paid 2 million won ($1,772) or less in monthly wages during the first six months of this year, government data showed Tuesday. About 32.6 percent o...
Legislator calls for measures to revive Gwangyang Port

Oct 24, 2017

GWANGYANG -- A ruling party legislator called Tuesday for urgent measures to revive Gwangyang Port, a major seaport in South Korea whose cargo processing volume is rapidly diminishing. Rep. Lee Gae-...
Korea, Vietnam hold economic committee meeting to discuss cooperation

Oct 24, 2017

South Korea and Vietnam held a joint economic committee meeting on Tuesday to discuss cooperation in various areas and tackle any stumbling blocks that could hamper further development. The meeting,...
President Moon to meet labor leaders over his new policies

Oct 24, 2017

President Moon Jae-in was set to hold a special meeting Tuesday with leaders of the country's top labor organizations over his new economic and labor policies. The meeting will be held at the presid...
Many tax evaders receive lenient punishment: data

Oct 24, 2017

Many people caught not paying taxes receive lenient punishment, parliamentary data showed Tuesday. Only 13,548 tax evaders have been indicted in the past five years, constituting 20.9 percent of tot...
IFEZ development to be delayed to 2030

Oct 24, 2017

INCHEON -- The development of Incheon Free Economic Zone, initially scheduled for completion by 2022, will be delayed to 2030 due to slowed investment in the aftermath of the global financial crisis ...
Korea’s reshoring policy far from effective

Oct 23, 2017

Few Korean companies have brought home overseas production in recent years in contrast to a sharp rise in the number of the country’s firms operating abroad. In 2012, the government began strengthen...
Exports up 6.9% this month despite long holiday

Oct 23, 2017

Despite experts predicting the long Chuseok holiday earlier this month would put a damper on Korea’s export figures, exports have surged nearly 7 percent compared to last year, according to data from...